Nationwide & Jackson MS USDA Streamline Refinance Loans

Looking To Refinance Your USDA Loan? Learn About USDA Streamline Refinance Loans by HomeTown, Lenders, Inc.

Ready to buy your home?

Let's Get Started

 

*Approximately 3 -5 Minutes to Complete The form.

Ready to buy your home?

Let's Get You Pre-Qualified


*Approximately 3 -5 Minutes to Complete The Form.

What Is A USDA Streamline Refinance Loan? Is It Right for You?

Learn More From HomeTown Lenders, Inc. A Leading Nationwide & Jackson MS USDA Streamline Refinance Loans Producer

Welcome to HomeTown Lenders. We are a Leading Nationwide USDA Streamline Refi Lender, and for good reason. We have helped many families and individuals in Alabama, Arkansas, California, Florida, Kentucky, Louisiana, Maryland, Michigan, Missouri, Mississippi, New Mexico, Tennessee, Texas, and Virginia refinance their homes through through high quality Nationwide and Jackson MS USDA Streamline Refinance Loans.

The USDA Streamline Refinance Program is designed to lower your interest rate by refinancing your existing USDA loan. If you are currently in a USDA loan and would like to lower interest rate by refinancing, the USDA has made it easy for you. Since you are already qualified for a USDA loan initially it is a very simple and quick process to lower your monthly mortgage payments by taking advantage of this popular streamline refinance program.

Contact our Nationwide USDA Mortgage Loan Officers to get prequalified and start USDA Streamline Refi today.

Learn Why USDA Streamline Refinance Loans Are A Great Deal

The USDA Streamline Refinance Program has reduced documentation, does not require an appraisal and is setup to let you get a lower interest rate in the easiest possible way. If you are currently in a USDA and would like to lower your mortgage payment the USDA Streamline Program can help you take advantage of historically low rates.  Contact HomeTown Lenders today and let’s get started saving you money by refinancing your USDA Loan.

What Are the Advantages of A USDA Streamline Refi?

  • Fast turnaround time
  • No appraisal required
  • No income verification
  • No debt to income calculation
  • Streamlined paperwork process

What are The Requirements For A USDA Streamline Refi

  • Minimum credit score 580
  • Must lower your interest rate by 1%
  • No late payments over 30 days in last 12 months

What About The USDA Funding Fee?

The USDA funding fee for streamlines is collected by lenders at closing and is financed into the loan which helps offset the cost to fund the USDA program. There is also monthly mortgage insurance on all USDA streamlines.

  • Your monthly mortgage insurance will be .40% and 2.0% for the funding fee

Frequently Asked USDA Streamline Refinance Questions

  1. Copy of driver’s license
  2. Copy of social security card
  3. Copy of your mortgage note
  4. Copy of mortgage statement
  5. Contact information for insurance agent

In some cases it may be possible to skip (2) mortgage payments as part of your USDA streamline. It will depend on when in the month you close your loan.

Yes, you can. A USDA streamline will allow you to refinance without an appraisal.

This is the document issued by the federal government certifying a veteran’s eligibility for a VA mortgage.

If you choose to roll in your closing costs instead of paying for them a closing your loan amount will increase by this amount including the USDA funding fee. But by skipping up to (2) mortgage payments in some cases, receiving escrow money back after closing, and the savings per month your breakeven on the streamline is realized very quickly.

Yes. A lender will review your mortgage payment history. In order to qualify you cannot have any late payments of 30 days in the last 12 months.

No. You can only reduce the interest rate on your current mortgage as part of the USDA Streamline. The program requires a net tangible benefit which means you have to lower your rate by at least 1% to qualify.

A Diverse and Comprehensive Line of Loan Products to Fit Everyone's needs.

FHA LOANS

Down to a 580 Credit Score

*SPECIAL RESTRICTIONS APPLY

Jumbo
Loans

Down to a 620 Credit Score

VA HOME LOANS

Down to a 580 Credit Score

*SPECIAL RESTRICTIONS APPLY

FHA
203K Loans

Down to a 620 Credit Score

USDA LOANS

Down to a 580 Credit Score

*SPECIAL RESTRICTIONS APPLY

FHA/VA/USDA
Conventional

Manufactured Home
Loans Available

CONVENTIONAL

Down to a 620 Credit Score

Down Payment
Assistance

Need A Little Help?
There May Be Assistance!

how much Will My Payments Be?

Mortgage Calculator

$

5%

1%

4%

$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly Insurance $1421

By sending this form to your email you are agreeing to allow us to contact you by email to follow up with you. Call us today to see what programs you may qualify for and today’s interest rates

Hometown Lenders Helping You Achieve Your Dreams

Contact HomeTown Lenders To Learn About Our Nationwide And Jackson MS USDA Streamline Refinance Loans Today!

We pride ourselves in making your home financing experience as easy and affordable as possible. Our service is second to none.
Scroll to Top
HomeTown Lenders, Inc. Logo | HomeTown Lenders Mortgage Team | Jackson MS Mortgage Lender | Nationwide Mortgage Lender

Home Loan Pre-Qualification Inquiry

1
About You
2
Information
3
Complete
Enter Your Information
Next
Pre-Qualification Questions
Previous
Next
Final Questions

Thank you for choosing HomeTown Lenders for your home loan mortgage needs. One of our team members will contact you within the next 24 hours. In case of weekends or holidays, we will contact you the next available business day.

Previous
Finance Me A Home!

FHA, VA, USDA Loans SPECIAL RESTRICTIONS

Special restrictions and guidelines for bad or poor credit.

All loans FHA, VA, USDA:

  1. FHA –  Minimum loan amount 200K
  2. Alternant trade lines ( utility bill, child care, insurance etc) 12 month history no late payments
  3. BK 7 Discharge over 2 years.  BK CH 13 3 years from file date
  4. Foreclosures over 3 years  
  5. Verifiable Rental history 12 months no lates (Cancel checks, money orders or by management company)
  6. 3 Months of reserves ( 3 months payments in reserves . example in bank, 401k etc)
  7. No excessive late payments in the past 12 months
  8. No Mortgage lates

On FHA with Credit scores less than 580

  • 90% LTV(Loan to Value) with 10% Down payment .

On VA with Credit scores less than 580  

  • 3.  100% LTV(Loan to Value) NO Down Payment

 On USDA with Credit scores  of 580-619

  • 100% LTV(Loan to Value) NO Down Payment

Guidelines